Latest Update Summary on Cryptocurrency Mining Industry in the United States
Contributions of Top Bitcoin Mining Companies
According to a research report from JPMorgan Chase (JPM), as of June 2023, listed Bitcoin miners in the United States account for 31.5% of the global mining network's total capacity. This is the highest level to date, reflecting the boom in the US cryptocurrency mining industry. These companies have consistently upgraded their machinery, adding 11 EH/s processing capacity since April. The contributions of CleanSpark, Hive Technologies, and Riot Platforms are particularly noteworthy, creating a breakthrough in the market.
Changes in Computing Power and Market Trends
In the first two weeks of June, the network's Medium mining capacity decreased by 10 EH/s, down to 890 EH/s. However, listed mining companies maintained an impressive growth rate of up to 99% compared to the same period last year. This demonstrates the stability and adaptability of businesses in a volatile cryptocurrency price environment. The total market value of the mining industry increased by 10%, equivalent to $2.4 billion. Riot led with a 20% stock price increase, while Bitfarms declined by 9%. The Hash price, a metric measuring mining profitability, decreased by 2% since the end of May, reflecting market volatility.
In-Depth Analysis of Cryptocurrency Mining Industry Trends in the United States
Outstanding Growth of Listed Miners
In the global cryptocurrency market, renowned mining companies in the United States demonstrate strong expansion capabilities. These miners not only play a central role in the hashing network but also shine in stock value, as shown by Riot's 20% growth. As a result, they help consolidate the United States' position as the world's largest mining center. Mining capacity increased primarily through new hardware systems, more efficient mining, and energy optimization, driving down operating costs.
Impact of Hash Price and Market Trends
The Hash price, used to value mining capacity, decreased by 2% since the end of May, reflecting short-term cryptocurrency market adjustments. Nevertheless, the increase in mining capacity has helped companies maintain profitability and better energy reserves. As of now, the total value of the mining industry has exceeded $2.4 billion, proving the strength of large mining enterprises, especially in a global pricing adjustment context.
Advice for Investors and Stakeholders
Investment Opportunities in Cryptocurrency Mining
Despite market fluctuations, the US cryptocurrency mining industry continues to demonstrate resilience and strong expansion. Investors should focus on companies with energy optimization capabilities and continuous hardware upgrades. The growth of Riot and other major companies proves high profitability potential, especially as the industry moves towards enhancing powerful energy-saving solutions.
Long-Term Strategy Advice
In the long term, mining companies need to maintain stable capacity, expand hardware, and optimize operational processes. Simultaneously, factors such as Hash price changes or cryptocurrency market volatility must be closely monitored to ensure appropriate responses. This will help investors benefit from positive trends and minimize risks from temporary fluctuations.
